Jacobs Levy Equity Management Inc. Makes New $5.50 Million Investment in Lineage, Inc. (NASDAQ:LINE)

Jacobs Levy Equity Management Inc. acquired a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 93,926 shares of the company's stock, valued at approximately $5,501,000.

Several other institutional investors also recently bought and sold shares of LINE. Janney Montgomery Scott LLC grew its stake in shares of Lineage by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock worth $595,000 after purchasing an additional 185 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Lineage by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock worth $1,740,000 after purchasing an additional 291 shares during the period. M&T Bank Corp grew its stake in shares of Lineage by 9.7% during the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company's stock worth $292,000 after purchasing an additional 439 shares during the period. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after purchasing an additional 448 shares during the period. Finally, EPIQ Capital Group LLC grew its stake in shares of Lineage by 10.9% during the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock worth $301,000 after purchasing an additional 500 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LINE. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Royal Bank of Canada lowered their price objective on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lowered their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Finally, Barclays began coverage on shares of Lineage in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.58.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $45.23 per share, with a total value of $199,916.60. Following the purchase, the insider now owns 4,420 shares of the company's stock, valued at approximately $199,916.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 51,186 shares of company stock worth $2,666,159 over the last 90 days. Company insiders own 1.40% of the company's stock.

Lineage Trading Down 0.1%

LINE stock traded down $0.04 during midday trading on Tuesday, reaching $47.86. 55,504 shares of the company's stock traded hands, compared to its average volume of 1,250,567. The company has a market capitalization of $10.94 billion and a P/E ratio of -14.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a fifty-two week low of $42.05 and a fifty-two week high of $89.85. The business has a 50-day moving average price of $53.50 and a two-hundred day moving average price of $57.90.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts forecast that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.41%. Lineage's dividend payout ratio is currently -65.53%.

About Lineage

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.